Highlight and describe the differences between the Income Summary and Income St

Highlight and describe the differences between the Income Summary and Income Statement. Guidelines Highlight what an Income Summary account is and what an Income Statement is.
Highlight the purpose of preparing an Income Summary and an Income Statement.
Highlight the effects of the T account.
The description should not exceed fifty words. Part 2: Prepare closing entries in a spreadsheet for the following transactions. Solve this problem using an electronic spreadsheet. Fees Revenue $1000
Rent expenses $100
Other expenses $400
Withdrawals $150